My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
Approving a lease for certain land & public improvements South Bend Redevelopment Authority South Bend Redevelopment Commission
sbend
>
Public
>
Common Council
>
Legislation
>
Ordinances
>
1990
>
Approving a lease for certain land & public improvements South Bend Redevelopment Authority South Bend Redevelopment Commission
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
11/15/2012 9:15:32 AM
Creation date
11/15/2012 9:15:28 AM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
10/8/1990
Ord-Res Number
8131-90
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
47
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
!� `' <br /> Trustee in this regard shall not relieve the Lessee of any <br /> consequences of a default in failing to obtain such insurance. <br /> Section 13. General Covenants. The Lessee shall not assign <br /> this Lease or sublet any part of the Project herein described <br /> without the prior written consent of the Authority; provided, <br /> however, that the Lessee shall in no event assign this Lease or <br /> sublet any part of the Project if such assignment or sublease will <br /> result in the loss of the exclusion from gross income for federal <br /> tax purposes of interest on any obligation issued by the Authority <br /> to finance the Project which is at the date of its issuance subject <br /> to such exclusion. The Lessee covenants that, except for Permitted <br /> Encumbrances, it will not encumber the Project, or permit any <br /> encumbrance to exist thereon, and that it shall use and maintain <br /> the Project in accordance with the laws and ordinances of the <br /> United States of America, the State of Indiana, and all other <br /> proper governmental authorities. The Authority agrees that it <br /> will, at the request of the Lessee, execute and deliver to or upon <br /> the order of the Lessee such instrument or instruments as may be <br /> reasonably required by the Lessee in order to subject the Project, <br /> or the Authority's interest therein, to such encumbrances as shall <br /> be specified in such request and as shall be permitted by the <br /> provisions of this Section 13 or otherwise by the definition of <br /> "Permitted Encumbrances" . <br /> Section 14 . Option to Purchase. The Authority hereby <br /> grants Lessee the right and option, on any rental payment date, <br /> upon thirty days' written notice to the Authority, to purchase the <br /> Project at a price equal to the amount required to enable the <br /> Authority to provide for the redemption of all outstanding Bonds, <br /> all premiums payable on the redemption thereof, and accrued and <br /> unpaid interest, and to pay the cost of redeeming the Bonds and <br /> liquidating the Authority if it is to be liquidated. <br /> Upon request of the Lessee, the Authority agrees to furnish <br /> an itemized statement setting forth the amounts required to be paid <br /> by the Lessee on the next rental payment date in order to purchase <br /> the Project in accordance with the preceding paragraph. <br /> If the Lessee exercises its option to purchase, the Lessee <br /> shall pay to the Trustee that portion of the purchase price which <br /> is required to provide for the payment of all the Bonds, including <br /> all premiums payable on the redemption thereof, accrued and unpaid <br /> interest thereon and the costs of redemption thereof. Such payment <br /> shall not be made until the Trustee gives to the Lessee a written <br /> statement that such amount will be sufficient to retire all Bonds <br /> including all premiums payable on the redemption thereof and <br /> accrued and unpaid interest. <br /> The remainder of such purchase price, if any, shall be paid <br /> by the Lessee to the Authority. Nothing herein contained shall be <br /> -7- <br /> \rlhill\sthbnd\airport\lease;dsl;August 30, 1990 <br />
The URL can be used to link to this page
Your browser does not support the video tag.